Forrest City Arkansas Income Charts

This section shows the Forrest City Arkansas economy using the most recent economic analysis from the 2020 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Forrest City depicts it has a Median earnings of $31,960 which is in the center range of other places in the metro area. The city with the highest median earnings per worker in the area is Palestine which depicts a median earnings of $35,938 (12.4% larger). Comparing median earnings per worker to the United States average of $49,041, Forrest City is approximately three-fourths the size. Also, measured against the state of Arkansas, median earnings per worker of $40,032, Forrest City is approximately three-fourths the size.

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $30,817 which is in the middle range of other places in the metro area. The city with the highest median household income in the area is Colt which indicates a median income of $37,946 (23.1% larger). Comparing median household income to the United States average of $62,843, Forrest City is approximately half the size. Also, measured against the state of Arkansas, median household income of $47,597, Forrest City is approximately three-fourths the size.

The next section examines a variety of different income statistics for the Forrest City metropolitan area. In Figure 3 we see that it it has one of the largest proportions of earnings less than $10,000 at 9.7% of the total and is ranked #3. Only #2 Caldwell (12.0%), and #1 Widener (12.9%) are larger. Second, it has less than most other places in the local area in terms of earnings between $10,000 and $14,999 at 8.6% of the total. Third, it has less than most other places in the greater region as measured by earnings between $15,000 and $19,999 at 36.5% of the total. Also, it has the largest proportion of earnings between $50,000 and $74,999 at 2.3% of the total and is ranked #1.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 36.7 which is the smallest in order of average hours of all the other places in the metro area. The city with the highest average hours in the area is Haynes which depicts an average hours of 42.8 (16.6% larger). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $16.75 which is the second most average hourly earnings of all the places in the greater Forrest City region. The city with the highest average hourly earnings in the area is Colt which depicts an average hourly earnings of $17.05 ( only slightly larger). Comparing average hourly earnings to the United States average of $24.31, Forrest City is approximately three-fourths the size. Also, compared with the state of Arkansas, average hourly earnings of $19.54, Forrest City is about 16.7% smaller.

Figure 7 examines the number of self employed people in the Forrest City metro area based on the number of people who reported any self employment income. Forrest City indicates it has a Self Employed of 4.6% which is in the mid range of other places in the greater region. The city with the highest percentage of people self employed in the area is Palestine which shows a percentage self employed of 12.3% (approximately 2.7 times bigger).

Turning our attention to Figure 8, the median household income by age group, it has one of the largest proportions of median income-under 25 years at $36,596 of the total and is ranked #2. The only larger city being Palestine with $49,063. Second, it has the second smallest when sorted by median income for those under 25 years of age of all the other places in the surrounding region when ranked by median income-25 to 44 years at $25,038 of the total. Third, it has one of the largest proportions of median income-45 to 64 years at $29,857 of the total and is ranked #2. The only larger city being Caldwell with $31,042.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 17.2% which is the smallest in terms of households with retirement income of all the other places in the area. The city with the highest households with retirement income in the area is Haynes which depicts a households with retirement income of 57.4% (approximately 3.3 times bigger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has the largest proportion of overall family income at $49,432 of the total and is ranked #1. Second, it has the second smallest as measured by overall family income of all the other places in the surrounding region in terms of white family income at $31,885 of the total.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Forrest City shows it has the hightest cost of 98.6 for the cost of healthcare grouping.

Forrest City Arkansas Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. . It depicts that from January 2006 to before the disasterous Coronavirus Pandemic the monthly unemployment rate went from 4.7% to 4.4% in March 2020. This represents a decrease in the monthly unemployment rate of 6.4%. Since that time, the monthly unemployment rate has gone to 5.8% This represents an increase in the monthly unemployment rate of 31.8%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It shows that from February 2010 to before the disasterous COVID-19 Pandemic the monthly labor force participation went from 11,330 to 10,532 in December 2019. This represents a decrease in the monthly labor force participation of 7.0%. Since that time, the monthly labor force participation has gone to 10,532 This represents an increase in the monthly labor force participation of very little.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Forrest City depicts it has a Unemployment Rate of 2.0% which is less than most other places in the metro area. The city with the highest unemployment rate in the area is Widener which depicts a rate of 8.4% (approximately 4.2 times bigger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Forrest City shows it has a Labor Force Participation of 38.2% which is the second smallest in order of participation rate of all the other places in the local area.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Forrest City shows full time employees approximately 3.0 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Forrest City area. Forrest City shows it has a Single Earner Families of 40.6% which is the third most families with a single earner of all other places in the greater Forrest City region. The city with the highest families with a single earner in the area is Madison which depicts a single earners rate of 44.6% (9.8% larger). The percentage of families with no one working is depicted in Figure 22. Forrest City shows it has a Families with No One Working of 22.1% which is in the center range of other places in the local area. The city with the highest families with no one working in the area is Caldwell which shows a families with no worker of 50.0% (approximately 2.3 times bigger).

Forrest City Arkansas Poverty Charts

The next section details economy analysis about poverty for residents of the Forrest City community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Forrest City depicts it has a Total In Poverty of 3,176 which is ranked #1 of all places in the local area.

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Forrest City shows it has a Percent of Population In Poverty of 29.3% which is the second most percent of people earning less than the poverty level of all the places in the greater Forrest City region. The city with the highest percent of people earning less than the poverty level in the area is Colt which depicts a percent of people in poverty of 30.6% (only about 4.3% larger).

In Figure 25 people who are in poverty are broken out by age group. Forrest City has the smallest proportion of person in poverty 18 to 34 years at 20% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Forrest City has one of the largest proportions of white poverty rate at 33% of the total and is ranked #2. The only larger city being Madison with 41%. Second, it has the largest proportion of black poverty rate at 100% of the total and is ranked #1. Third, it has the largest proportion of asian poverty rate at 100% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Forrest City has the largest proportion of less than highschool in poverty at 29% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Forrest City has one of the largest proportions of people who are in poverty and unemployed at 20.2% of the total and is ranked #2. The only larger city being Colt with 21.8%. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Forrest City depicts it has a Public Assistance Percent of 27.4% which is in the middle range of other places in the metro area. The city with the highest households with public assistance in the area is Madison which shows a households with public assistance of 36.6% (33.3% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Forrest City depicts it has a Gini Index of 48.9% which is the highest of all places in the surrounding region.

Forrest City Arkansas Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Forrest City community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Forrest City has the largest proportion of people who drive a car or motorcycle to work at 0% of the total and is ranked #1. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Forrest City or elsewhere.) Forrest City has the largest proportion of people who take the bus at 0% of the total and is ranked #1.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Forrest City has the largest proportion of people who leave for work between 530 am to 6am at 12% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Forrest City has the largest proportion of people with commute time of less than 5 minutesutes at 28% of the total and is ranked #1. Second, it has one of the largest proportions of people with commute time between 5 to 9 minutes at 25% of the total and is ranked #2. The only larger city being Caldwell with 47%. Third, it has the second smallest as measured by people with commute time of less than 5 minutes of all the other places in the local area when sorted by people with commute time between 10 to 14 minutes at 12% of the total.

The average commute time is shown in Figure 37. Forrest City depicts it has a Avg Commute Time of 17 which is the smallest when ranked by average commute time of all the other places in the metropolitan area. Figure 38 shows the difference between male versus female commuting time. Forrest City depicts average commute time in minutes for men 61.4% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Forrest City has the largest proportion of no vehicle available at 42% of the total and is ranked #1. Second, it has the smallest proportion of 1 vehicle available at 29% of the total. Third, it has the second smallest when sorted by no vehicle available of all the other places in the greater region in order of 2 vehicles available at 11% of the total. Also, it has one of the largest proportions of 3 vehicles available at 6% of the total and is ranked #2. The only larger city being Widener with 7%. In addition, it has the largest proportion of 4 vehicles available at 4% of the total and is ranked #1. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Forrest City shows it has a Work in city or place where live of 65% which is at the top of all other places in the greater Forrest City region. Comparing people who both work and live in the same city to the United States average of 42%, Forrest City is 55.5% larger. Also, compared with the state of Arkansas, people who both work and live in the same city of 51%, Forrest City is 27.6% larger.

Forrest City Arkansas Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. Forrest City indicates it has the hightest median earnings of $85,321 for the earnings-computer, engineering, and science occupations grouping. Similarly, Figure 47 shows the median earnings of women for the job categories and Forrest City indicates it has the hightest median earnings of $55,625 for the management, business, and financial occupations aggregate. The table in Figure 48, shows Forrest City employment data in terms of job categories and salary data.

Forrest City Arkansas Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. Forrest City depicts it has the hightest entrepreneurs of 53% for the self employed management, business, science, and arts businesses grouping.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Forrest City depicts it has the hightest entrepreneurs of 33% for the self employed in retail trade group.

In Figure 51 the average annual self employment/entrepreneur income is shown. Forrest City shows it has a Self Employment Income of $53,770 which is is the uppermost of the places in the greater Forrest City region. Comparing average annual self employment income to the United States average of $39,154, Forrest City is 37.3% larger. Also, measured against the state of Arkansas, average annual self employment income of $34,501, Forrest City is 55.9% larger.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Forrest City shows total number of self-employed men approximately 3.9 times bigger as the total number of self-employed women.